You are often told that inflation is the worst enemy for your long-term financial well being. Inflation gradually lowers the value of your retirement dollars, and that’s the reason, if your cash sits under your mattress, it is going to purchase less once you remove it.
But inflation is not a […]
Once again, Washington is taking more from retirees with higher incomes. After a retiree reaches a certain income level, retirees have to pay an income-related monthly adjustment (IRMAA). Prior to this year, this adjustment started for individuals with $214,000 a year. Starting in 2018, the threshold goes down to $160,000. At […]
If you earned a government pension from a job not subject to Social Security tax withholding (“noncovered employment”) and are also eligible for Social Security benefits through a job where Social Security taxes were withheld, two provisions might reduce your benefits: the windfall elimination provision (WEP) and the government pension offset (GPO).
The WEP affects how […]
If you’re thinking about working as long as possible to increase your retirement savings, you may be wondering whether you can receive Social Security retirement benefits while you’re still employed. The answer is yes. But depending on your age, earnings from work may affect the amount of your Social Security benefit.
If you’re younger than full […]
If you or a loved one needs long-term care, other choices besides nursing home care may be available. Here are some of the other options.
Most people would prefer to stay in their homes as long as possible. Depending on your needs, you may only need help with some common daily living activities such as […]
Inflation is one of the key factors you will need to consider when planning for retirement. Not only will the cost of living rise while you’re accumulating assets for retirement, but it will continue to rise during your retirement, which could last 25 years or longer. This, combined with the fact that you will not […]
The robotics revolution, so far confined to factories and the cute little device that roams your house sucking up dirt, is about to hit closer to home. In Japan, so-called “carerobos” are now helping workers look after the elderly in assisted living facilities. In one facility, a large-eyed humanoid named Pepper leads the […]
You may have read that women are far more likely to face poverty in retirement than their male counterparts—but you may not realize just how big the disparity is. In fact, women are 80% more likely to fall into poverty toward the end of their lives, compared to men, according to a 2016 study […]
If you’re looking for creative ways to “give back” to your community or society at large, consider joining a nonprofit board of directors. But where do you begin?
Assess your passions
“Passion for mission” is the most important criterion when recruiting board members.1 Are you an animal lover or concerned about children’s health? Do you currently support youth […]
Your Social Security Statement provides important information about your Social Security record and future benefits. For several years, the Social Security Administration (SSA) mailed these statements every five years to people starting at age 25, but due to budgetary concerns, the SSA has stopped mailing Social Security Statements to individuals under age 60.
Workers age 60 […]